GD Reports 3Q Results

Wednesday, October 16, 2002
General Dynamics reported 2002 third quarter net earnings of $268 million, or $1.32 per share on a fully diluted basis, on sales of $3.3 billion. Before the impact of FAS 142, which changes the way companies account for goodwill in business combinations, earnings per share increased 13 percent over the third quarter of 2001, when net earnings were $230 million, or $1.13 per share, on sales of $3 billion. (Including the effects of FAS 142, earnings per share in the third quarter of 2002 increased 17 percent.) Net cash provided by operating activities totaled $254 million for the 2002 third quarter. The quarter ended on September 29, 2002. For the first nine months of 2002, sales were $9.9 billion, compared with $8.7 billion for the first nine months of 2001. Net earnings for this nine month period were $760 million, or $3.74 per share fully diluted, compared with net earnings of $669 million, or $3.30 per share, for the first nine months of 2001, excluding a non-recurring tax gain recorded in the first quarter of 2001. Net cash provided by operating activities for the first three quarters now totals approximately $592 million. "This was a very good quarter, with a $4.02 billion increase in our backlog on the strength of major shipbuilding increases and Gulfstream orders. We ended the quarter with a total backlog of $29.5 billion, $21.5 fully funded," said Nicholas D. Chabraja, chairman and CEO of General Dynamics.
Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Deadliest Weekend Ever in the Mediterranean: UNHCR

More than 700 people fleeing Africa and the Middle East may have drowned in shipwrecks in the Mediterranean over the last week, bringing the death toll this year to almost 3,

BAE Systems Awarded 'USS Hopper' Repair Contract

US Department of Defense informs BAE Systems Hawaii, Honolulu, Hawaii, is being awarded a not-to-exceed $22,905,907 undefinitized contract action to a previously

Trelleborg Report Optimistic for Port Investment

The latest 'Barometer Report' from Trelleborg's marine operations business sector, discusses the issues impacting ports and terminals around the globe, and reveals

Finance

Trelleborg Report Optimistic for Port Investment

The latest 'Barometer Report' from Trelleborg's marine operations business sector, discusses the issues impacting ports and terminals around the globe, and reveals

Upcoming Winter Tanker Market Same as Last Year?

Will the 2014/15 winter tanker market be a repeat of the previous one? Poten & Partners consider the question in their latest 'Poten Tanker Opinion'. As the

Technip Further Optimizes its Subsea Assets

Technip signed today an agreement to sell 100% of its North American diving assets to Ranger Offshore Inc.(1). Technip’s strategy focuses on high technology

 
 
Maritime Contracts Maritime Security Naval Architecture Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1022 sec (10 req/sec)